MEXC Demands Trader Fly to Malaysia to Unlock $3.1M Frozen Funds

When your crypto gets locked, support tickets won't cut it—MEXC wants a passport stamp first.

The Bureaucracy Runaround

Imagine waking up to find $3.1 million frozen by your exchange. Now imagine being told the only solution involves international travel. That's the reality for one trader facing MEXC's unusual unlock policy—because apparently, KYC now stands for 'Keep Your Cash... if you can catch a flight.'

The Fine Print Fiasco

Exchanges love preaching decentralization while maintaining more red tape than a traditional bank. This case exposes the brutal irony: digital assets requiring physical presence verification. They'll happily take your digital coins but demand analog proof you deserve them back.

Travel-Required Trading

Next time someone preaches crypto's borderless future, remember this: $3.1 million in limbo until someone boards a plane. Because nothing says financial innovation like requiring airline tickets to access your own money—the traditional finance guys must be laughing all the way to their actual banks.

MEXC Defends Risk Management Policies

Earlier this year, MEXC had stated that the exchange strictly adheres to risk management policies and does not freeze assets without valid reasons. The company cited potential responses to activities like price manipulation, wash trading, self-trading, front-running, fraudulent trading, and false quoting. 

Currently, the trader stated he had fulfilled all other KYC requirements, including face verification, phone number, and home address confirmation, and pointed out that MEXC’s Terms of Service do not reference in-person verification. 

On Monday, he also launched a $2 million social media campaign to push MEXC to release his frozen $3.1 million. He further said that people can join the campaign by creating a free NFT on the Base network and tagging MEXC or its COO on X with “#FreeTheWhiteWhale.” 

The trader even announced that if the funds are released, the first 20,000 NFT holders will equally share a $1 million USDC reward. However, White Whale is not the only one with problems at MEXC. 

In April, another user, Pablo Ruiz, claimed that the firm had frozen his $2 million in Tether (USDT) without warning or reason, citing a “risk control” rule. Ruiz got automated replies, one saying his account would be reviewed for a year, with no further action until April 17, 2026.

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